(Originally posted on The Tennessean)
Nashville-based Silicon Ranch Corp., a solar power producer, recently closed an investment round that attracted $225 million in equity capital, funded entirely by existing shareholders.
This equity raise will support the increase of Silicon Ranch’s portfolio of solar projects, which has operations in more than 15 states including several across Tennessee. The raise will specifically lead to an additional 1 gigawatt of new projects in the next two years.
The equity raise and ongoing support from shareholders will further Silicon Ranch’s growth and enable the company to make capital investments across the country by developing new projects in new markets and pursuing strategic acquisition opportunities.
Co-founded by former Tennessee Gov. Phil Bredesen in 2011, develops-to-own solar farm projects with more than 135 solar farms across the country including the first large-scale solar projects in Georgia, Tennessee, Arkansas, and Mississippi.
Silicon Ranch is the U.S. solar platform for Shell, and works with partners such as the U.S. military, America’s electric cooperatives, and TVA.